CryptoInsiders
blockchain-glossary
46 messages
ea77 04-Sep-18 05:07 PM
"“Economic abstraction”, in the context of blockchain architecture, refers to the idea that a blockchain architecture can be modified to remove the existence of a single native blockchain token (or “coin”). Rather than the protocol requiring use of a particular token, the protocol would allow the use of any one of a potentially unbounded number of tokens." - Vlad Zamfir
ea77 13-Sep-18 02:42 PM
"STO" - "Security token offering, often called the successor iof Initial Coin Offering"
ea77 14-Dec-18 01:47 AM
"BEE" - "Bitcoin Ethereum EOS"
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ea77 20-Dec-18 01:00 AM
"DAU" - Daily active users
"TAM" - Total addressable market
ea77 22-Dec-18 03:03 PM
"VC" - Venture capital
"Block.one" - Company that works on the EOS.io protocol
"Lateral thinking" - Reasoning in an non-linear fashion by applying concepts from horizontally aligned fields. One definition that is easy to remember is that one is more sequential in nature and the other more parallel thinking. Vertical vs horizontal.
The longest chain wins — this is the rule used by blockchain-based cryptocurrencies to achieve consensus. “Longest chain” is an…
"block producer "- unlike a miner or staker/validator, blocks are verified by a producer. Typically refers to EOS implementations "validator" - in PoS and DPoS, people that are securing the network and confirm validity of blocks and order of events are not called miners, they are usually referred to as validators. "nominator" - in 3rd-gen systems like Polkadot, validators may have to be nominated "21st BP" - in DPoS, more particular DPoS that EOS.io implements it has been suggested to rotate standby block producers into the 21st spot. This is already the case with Steem. As such the 21st spot holds significance (edited)
ea77 22-Dec-18 03:28 PM
"fixed supply demand cycle" - Bitcoin prices underlie demand and supply like any other asset. Supply cannot contract or expand and change with demand, so swings in prices are typically more extreme than observed in boom/bust cycles in other markets controlled by central banks (edited)
ea77 31-Dec-18 01:52 AM
An inverted yield curve is an interest rate environment in which long-term debt instruments have a lower yield than short-term debt instruments of the same credit quality. This type of yield curve is the rarest of the three main curve types and is considered to be a predictor of economic recession.
` https://www.investopedia.com/terms/i/invertedyieldcurve.asp
An inverted yield curve is the interest rate environment in which long-term debt instruments have a lower yield than short-term debt instruments.
ea77 02-Jan-19 07:22 AM
Byzantine fault tolerant - "Byzantine fault tolerant (BFT) means that when you’re trying to figure out the order of transactions there comes a moment in time when you know that you have reached consensus. Ultimately, byzantine fault tolerant (BFT) means three things: 1) We are going to come to consensus; 2) We will know when we’ve come to consensus; and 3) We’re never wrong — you’re mathematically guaranteed that everybody else is going to reach the exact same consensus. That’s byzantine."
aBFT vs BFT - BFT can be either asynchronous byzantine (aBFT) or partially asynchronous byzantine. Both are mathematically guaranteed, with the difference being the level of assumptions you’re making about your environment.
"aBFT would assume evil actors exist in the community because they do. However, if you’re making faulty assumptions like there are no botnets in the world, it would be partially Asynchronous BFT "
Daniel Larimer, CTO of block.one, took time to whiteboard DPOS for EOS Go to share with the community - as Dan called… by eosgo
Tendermint Core - Tendermint Core is a Byzantine fault-tolerant (BFT) consensus engine which is robust against double-spend attacks and is tolerant against a set of up to ⅓ (~33%)
ea77 02-Jan-19 07:45 AM
"Fork accountability" - the ability to detect a faulty processes and remove nodes that caused them in order to increase resilience of the chain in case of emergencies
Cosmos - Cosmos envisions an interoperable multi-chain network which provides the means for trustless exchange of cryptographic assets across independent blockchains, called zones, through a master hub chain known as the Cosmos Hub
The majority of cryptocurrencies are built on the blockchain. In this article, I discussed why one ought to be more excited about…
ea77 02-Jan-19 08:09 AM
"EOS TaPoS" - EOS handles forks somewhat differently. It utilizes a concept called Transactions-as-Proof-of-Stake, or TaPoS. It requires that every transaction has a corresponding hash of a recent block header. The hash does two things: it prevents replay attacks because a transaction on a fork with a missing hash assumes the fork is counterfeit, and it signals to the network that a particular user and their staked tokens are on a specific chain.
ea77 02-Jan-19 08:21 AM
"Coordination games" - are strategic games with multiple Nash equilibria. A Nash equilibrium, as described in a recent post of ours, titled Nash Equilibria and Blockchain Platforms, is an outcome of a strategic game in which none of the participants want to change their choice of actions, given the actions of the other players.
ea77 04-Jan-19 09:43 AM
"Why BFT matters" -
In the absence of BFT, a peer is able to transmit and post false transactions effectively nullifying the blockchain’s reliability. To make things worse, there is no central authority to take over and repair the damage.
ea77 06-Jan-19 07:41 AM
Latency — the time it takes from the creation of a transaction until the initial confirmation of it being accepted by the network (and how the confidence of acceptance increases over time); Finality —the property that once a transaction is completed, there is no way to revert it (or alter it). Basically, it’s the moment when the parties involved in the transfer can consider the deal done. Finality can be deterministic or probabilistic.
ea77 06-Jan-19 01:50 PM
What is an argument? Your argument is the statement of what you think about the question you've been set. It determines your structure, evidence, reasoning, quotations, introduction and conclusion. Spend time on it. You should be able to sum up your argument in a single sentence. You should be able to explain the essence of it to a young child. You should be able to write it in a few words on a Post-it Note. Keep refining the wording of that simple statement until you are convinced it describes what is at the heart of your essay.
ea77 07-Jan-19 10:57 AM
• Nakamoto-like consensus: The POW scheme in Bitcoin introduced a game theoretical aspect to this problem. Then, instead of restricting the number of faulty nodes, an assumption is put on the rationality of nodes in the network. However, some early POW or POS based schemes have limitation in the transaction rate to meet the synchronous requirements [14]. With this problem solved in novel algorithms like [3], [15], [16], [17], O(N) CCPT is feasible in Nakamoto-like consensus
ea77 07-Jan-19 05:41 PM
"DAGs" Directed acyclic graph "
DAGs probabilistic approach to transaction confirmations is a key reason for its inherent scalability.
ea77 13-Jan-19 08:16 AM
"Mosaic theory" - security analysis by inferring from big picture information
Mosaic theory refers to a method of analysis used by security analysts to gather information about a corporation. The mosaic theory involves collecting public, non-public and non-material information about a company to determine the underlying value of its securities and to enable the analyst to make recommendations to clients based on that information.
Mosaic theory refers to a method of analysis used by security analysts to gather information about a corporation.
"Deterministic Parallel Execution of Applications" -
Blockchain consensus depends upon deterministic (reproducible) behavior. This means all parallel execution must be free from the use of mutexes or other locking primitives. Without locks there must be some way to guarantee that transactions that may be executed in parallel do not create non-deterministic results. The June 2018 release of EOS.IO software will run single threaded, yet it contains the data structures necessary for future multithreaded, parallel execution.
"Payment channel For Atomic Swaps" -
Hashed timelock contracts are a special form of payment channels. Payment channels are basically off-chain state channels which deal with payments. A state channel is a two-way communication channel between participants which enable them to conduct interactions, which would normally occur on the blockchain, off the blockchain. What this will do is that it will decrease transaction time exponentially since you are no longer dependent on a third party like a miner to valid your transaction.
Atomic Swaps has the potential of completely revolutionizing the money transfer system in the crypto world. To put it in simple terms, atomic swaps will enable people to directly trade with one another wallet-to-wallet.
ea77 13-Jan-19 08:38 AM
"The EOS model" -
Proof of stake: In contrast, EOS’ model is delegated proof of stake (DPOS). The holders of EOS tokens delegate who is going to produce blocks in advance, which lets block producers take turns producing and verifying blocks. Efficiency: The reduced number of block producers combined with the reduction of full nodes verifying transactions greatly reduces network latency. This means EOS can afford to create many more blocks per minute: every 0.5 seconds to be precise. All block producers must sign a block to prove they verified the transactions. And once 15 block producers have signed a block it’s deemed irreversible.
ea77 13-Jan-19 08:49 AM
"Latency" -
Latency is the time it takes for one account to send an Action to another account and then receive a response. The goal is to enable two accounts to exchange Actions back and forth within a single block without having to wait 0.5 seconds between each Action.
ea77 13-Jan-19 09:16 AM
"Economies of scale" -
Economies of scale dictate that at scale systems tend to become hyper-efficient, lean and more or less centralized
https://twitter.com/random_walker/status/1079760597800140801
A neat illustration of how centralization arises naturally due to economies of scale is the fact that the evolution of cryptocurrency mining closely parallels gold mining more than a century ago! [By @josephboneau, from our book. https://t.co/FIbyZnzfzn]
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"Doherty threshold" - PC user productivity soars at 400ms response time with MASSIVE implications for cost/time-savings https://lawsofux.com/doherty-threshold
Productivity soars when a computer and its users interact at a pace (<400ms) that ensures that neither has to wait on the other.
ea77 02-Feb-19 02:44 PM
"Focal point" - Focal point (game theory) In game theory, a focal point (also called Schelling point) is a solution that people will tend to use in the absence of communication, because it seems natural, special, or relevant to them.
ea77 03-Feb-19 01:03 PM
Turing tarpit - "A Turing tarpit (or Turing tar-pit) is any programming language or computer interface that allows for flexibility in function but is difficult to learn and use because it offers little or no support for common tasks"
ea77 20-Feb-19 09:44 PM
"Hard cryptomoney" - any cryptocurrency with sound SoV premises due to inherent economic design
ea77 23-Feb-19 07:14 PM
"NFT" - Non-Fungible Token
ea77: ERC 721 – the standard for non fungible tokens [7:15 PM] ea77: dGoods - EOS equivalent
Miner49er 18-Jun-19 07:17 PM
IBC - inter-blockchain communication